Bassett Furniture Industries, Incorporated (NASDAQ:BSET) insider Jay R. Hervey sold 625 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $38.66, for a total value of $24,162.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Bassett Furniture Industries, Incorporated (BSET) traded up 0.27% during mid-day trading on Friday, hitting $37.75. The company’s stock had a trading volume of 35,923 shares. The stock has a market cap of $404.83 million, a PE ratio of 22.73 and a beta of 1.11. The company has a 50-day moving average price of $35.52 and a 200-day moving average price of $29.98. Bassett Furniture Industries, Incorporated has a 1-year low of $22.42 and a 1-year high of $40.55.
Bassett Furniture Industries, (NASDAQ:BSET) last posted its quarterly earnings results on Thursday, June 29th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. Bassett Furniture Industries, had a return on equity of 9.05% and a net margin of 4.08%. The business had revenue of $114.10 million during the quarter, compared to analysts’ expectations of $110.52 million. During the same quarter last year, the company posted $0.31 earnings per share. Bassett Furniture Industries,’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts predict that Bassett Furniture Industries, Incorporated will post $1.67 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.44 dividend on an annualized basis and a yield of 1.17%. This is a boost from Bassett Furniture Industries,’s previous quarterly dividend of $0.10. Bassett Furniture Industries,’s dividend payout ratio (DPR) is presently 24.10%.
BSET has been the topic of a number of recent research reports. Zacks Investment Research upgraded Bassett Furniture Industries, from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Monday, April 3rd. BidaskClub downgraded Bassett Furniture Industries, from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus boosted their price target on Bassett Furniture Industries, from $28.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, June 30th.
A number of institutional investors have recently bought and sold shares of the company. SG Capital Management LLC acquired a new position in Bassett Furniture Industries, during the second quarter worth approximately $1,325,000. Goldman Sachs Group Inc. increased its stake in shares of Bassett Furniture Industries, by 38.1% in the first quarter. Goldman Sachs Group Inc. now owns 25,726 shares of the company’s stock valued at $692,000 after buying an additional 7,093 shares during the period. Bank of America Corp DE increased its stake in shares of Bassett Furniture Industries, by 183.8% in the first quarter. Bank of America Corp DE now owns 8,311 shares of the company’s stock valued at $224,000 after buying an additional 5,383 shares during the period. Geode Capital Management LLC increased its stake in shares of Bassett Furniture Industries, by 3.4% in the first quarter. Geode Capital Management LLC now owns 94,729 shares of the company’s stock valued at $2,548,000 after buying an additional 3,118 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Bassett Furniture Industries, by 0.8% in the first quarter. Vanguard Group Inc. now owns 483,465 shares of the company’s stock valued at $13,005,000 after buying an additional 3,978 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.
Bassett Furniture Industries, Company Profile
Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail - Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.
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